Digital Currency

Ukrainian President Signs Law Opening Door for Digital Hryvnia, Regulatory Sandbox

<div class=”featured_image_container”> </div> <strong>President Volodymyr Zelensky has signed a law that will allow the National Bank of Ukraine to issue its own digital currency. The new legislation, which aligns Ukrainian regulations with EU rules, will also stiffen authentication requirements for clients of payment service providers. </strong> New Legislation Allows Ukrainian Central Bank to Issue Digital …

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Central Bank Governor: South Africa’s Digital Currency Study Ongoing

<div class=”featured_image_container”> </div> <strong>South African Reserve Bank (SARB) governor, Lesetja Kganyago, has once again confirmed that the central bank is presently studying the feasibility of issuing a digital currency. In his remarks at the SARB’s annual general meeting, governor Kganyago suggested his organization has embarked on this study to keep abreast with the growing trend …

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Fed Governor Lael Brainard Can’t Imagine Future Without Digital Dollar

<div class=”featured_image_container”> </div> <strong>Pointing to a number of reasons why a digital version of the U.S. dollar should be created, Federal Reserve Governor Lael Brainard insisted that not having one wouldn’t lead to a sustainable future. The central bank official believes a digital dollar will have both international and domestic applications. </strong> US Fed’s Lael …

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Central Bank of Ireland Governor Talks Crypto, Praises ‘Secure, Decentralized’ Technology

<div class=”featured_image_container”> </div> <strong>Gabriel Makhlouf, the governor of the Central Bank of Ireland (CBI), has published a blog post in which he shares his views on the digitalization of finance. While echoing concerns expressed by his counterparts regarding cryptocurrencies, the official has also highlighted some of their positives. </strong> Don’t Ignore the Positive Elements of …

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Digital Yuan to Promote International Use of Chinese Currency, Experts Say

<div class=”featured_image_container”> </div> <strong>The new digital yuan, currently undergoing trials, can help to increase the international usage of China’s national fiat, experts have stated. As the renminbi (RMB, CNY) is becoming one of the world’s most important currencies, the People’s Bank of China is planning to conduct cross-border tests with the yuan’s digitized version, the …

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Ghana’s vice president declares Africa should embrace digital currencies

Ghana’s vice president Dr. Mahamudu Bawumia believes that African governments need to embrace digital currencies to facilitate trade throughout the continent. As reported by Ghanaweb Bawumia outlined his argument during the Fifth Ghana International Trade and Finance Conference, which boasted the theme of “Facilitating Trade and Trade-Finance in AfCFTA; The Role of the Financial Services …

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Kenyan Farmers Pivot to Cryptocurrency as Popularity of Community Currencies Grows

<div class=”featured_image_container”> </div> <strong>The growth and popularity of community inclusion cryptocurrencies in Kenya continues to soar with the country’s rural farmers being the latest group to embrace the financial technology. As one report reveals, some farmers in Kenya’s countryside are now accepting cryptocurrency as payment while others are using the same to buy important supplies.</strong> …

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French Central Bank Conducts Fifth Experiment on Tunisia CBDC

<div class=”featured_image_container”> </div> <strong>The French central bank, Banque de France (BOF), recently carried out its fifth experiment on the Central Bank of Tunisia (CBT)’s central bank digital currency (CBDC). According to a statement from BOF, the latest experiment is part of the banks’ joint effort to create conditions that are “conducive to a better inclusion …

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Future of Digital Euro ‘Not Clear Yet,’ Former Eurogroup Official Says

<div class=”featured_image_container”> </div> <strong>Europe’s digital currency project has made some progress recently, with the Eurozone’s central bank moving to its next stage. Critics point, however, to the continuing lack of clarity around the design and purpose of the digital euro after a decade-long delay, if cryptocurrency is taken as a benchmark. </strong> Digital Euro to …

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IMF, World Bank, BIS Recommend Countries Work Together on CBDCs to Enhance Cross-Border Payments

<div class=”featured_image_container”> </div> <strong>The International Monetary Fund (IMF), the World Bank, and the Bank of International Settlement (BIS) have conducted an extensive study of using central bank digital currencies (CBDCs) for cross-border payments. Their report to the G20 states that enhanced cross-border payments “can be achieved … as long as countries work together.”</strong> The Committee …

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